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Nevilledog

(50,660 posts)
Fri Jan 7, 2022, 02:42 PM Jan 2022

Tech Startup Wants To Gamify the U.S. Court System Using Crypto Tokens





https://www.vice.com/en/article/v7d7x3/tech-startup-wants-to-gamify-the-us-court-system-using-crypto-tokens

A new tech startup plans to become “the stock market of litigation financing” by allowing everyday Americans to bet on civil lawsuits through the purchase (and trade) of associated crypto tokens. In doing so, the company hopes to provide funding to individuals who would otherwise not be able to pursue claims.

“Ryval’s goal is to make access to justice more affordable,” said Kyle Roche, a trial lawyer and one of the startup’s founders. “What I want to do is make the federal court system more accessible for all.”

Roche believes the U.S. federal court system is one of the best in the world, but that navigating it is cost prohibitive for the average American. As a result, he believes, potential whistleblowers are too often hesitant to defy “well-resourced” corporations and other entities due to the potential cost of legal action. Through Ryval, Roche wants to “make lawsuits happen that maybe might not have happened.”

However, on its website, Ryval focuses all of its attention on the potential return for investors. “Buy and sell tokens that represent shares in a litigation and access a multi-billion dollar investment class previously unavailable to the public,” the company states. Ryval also promises “50%+ Annual Returns,” though Roche admitted the figure “may be a little high” when Motherboard asked him about it.

*snip*


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Tech Startup Wants To Gamify the U.S. Court System Using Crypto Tokens (Original Post) Nevilledog Jan 2022 OP
Nevilledog is Barking The Truth wyn borkins Jan 2022 #1

wyn borkins

(1,109 posts)
1. Nevilledog is Barking The Truth
Fri Jan 7, 2022, 03:03 PM
Jan 2022

"(Motherboard-TechByVice) A Tech Startup Wants To Gamify Suing People Using Crypto Tokens. The new company plans to let everyday Americans bet on civil lawsuits by buying and trading associated crypto tokens in 'initial litigation offerings'. (By Maxwell Strachan)"

Of Some Note: Champerty (as a law term) defines an illegal agreement in which a person with no previous interest in a lawsuit finances it with a view to sharing the disputed property if the suit succeeds.

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